Press Release

Sunday 2nd January, 2005

Abu Dhabi Central Market to close on March 1, 2005, for complete redevelopment

It was announced today that the Central Market in Abu Dhabi will close at midnight on March 1, 2005, for the purpose of redevelopment - and that all shop owners are being invited to register their ownership related documents immediately with ADDAR Real Estate Services LLC.

The Central Market will be redeveloped as a showpiece project for Abu Dhabi Emirate. At the heart of the 50,000 sqm redevelopment will be the transformation of the existing Souk into a vibrant new city centre destination.

This will feature a new traditional Souk within a dynamic high-quality commercial, residential, retail and entertainment destination, with its own distinctive personality.

In addition to the traditional Souk, the redevelopment will encompass luxury shopping, specialty retail outlets, quality apartments, a food court offering an impressive array of dining opportunities from around the world and state-of-the-art office accommodation.

At the end of the redevelopment period, all shop owners will be granted ownership of a new shop in the new Central Market on similar terms and conditions as now exist.

All UAE National shop owners are requested to register their shop ownership with ADDAR Real Estate Services LLC within the next 14 days, by depositing notarized copies of the following documents: Proof of ownership and or inheritance certification; proof of UAE citizenship; their contact details and of any leases registered at the Abu Dhabi Municipality and Town Planning Department.

Once registration has been completed, ADDAR Real Estate Services LLC will then contact all shop owners with compensation arrangements during the redevelopment period. Registration can be made at the ADDAR Real Estate Services LLC registration desk (2nd Floor, Chamber if Commerce & Industry Building, Corniche Road, Abu Dhabi) at the following times: from Sunday, January 2, to Wednesday, January 5, and from Saturday, January 8, to Wednesday, January 12, 2005, between 9 am to 6 pm. A help desk manned by ADDAR Real Estate Services LLC is available on 02-633 68 74.